Schroder Asian Asset Income Fund

Learn more about Schroders' funds visit: schroders.com.hk 1

Important Information

The fund invests primarily in Asian (including countries in Asia-Pacific) equities and fixed income securities which aim to offer attractive yieldsand sustainable dividend payments. The fund will have limited Renminbi (RMB) denominated underlying investments.1. The fund invests in equity would subject to equity investment risk.2. The fund investment in fixed income securities may be subject to credit and counterparty, credit rating risk, etc.. The fund investment inbelow investment grade and/or unrated debt securities may be subject to higher degree of the above risks.3. The fund’s investment in emerging and less developed markets may be subject to significant risks such as ownership and custody risks,political and economic risks, market and settlement risks, etc.4. The fund may invest into investments denominated in currencies other than the fund's base currency and subject to currency and exchangerisk. If the investor’s based currency is a different currency than the share class’s currency being invested in, the investor needs to carry outconversion and would involve conversion costs. RMB is currently not freely convertible. There is no assurance that RMB will not be subject todevaluation.5. The fund may invest in derivatives for hedging purposes. In adverse situations, the fund’s use of derivatives may become ineffective inhedging and the fund may suffer significant losses. Risks associated with derivatives include counterparty risk, credit risk and liquidity risk. Suchexposure may lead to a high risk of capital loss.6. In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed.Distribution yield is not indicative of the return of the fund. Distribution may be paid from capital of the fund. Investors should note that wherethe payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originallyinvested or capital gains attributable to that and may result in an immediate decrease in the value of units.You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for furtherfund details including risk factors.

Investment Objectives

The fund's investment objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian (includingcountries in Asia-Pacific) equities and Asian fixed income securities.

Share class performance (Cumulative)

Performance (%) 1 month 3 months 6 months YTD 1 year 3 years 5 years 10 years

Fund -0.9 -2.9 -3.6 2.1 6.5 15.3 25.4 83.1

Annual Performance(%)

2016 2017 2018 2019 2020

Fund 6.5 14.1 -5.1 11.6 1.8

Performance over 5 years (%)

Schroder Asian Asset Income Fund A Accumulation HKD

2016 2017 2018 2019 2020-10.0%

0.0%

10.0%

20.0%

Source: Morningstar, NAV to NAV, net income reinvested, net of fees, based on Schroder AsianAsset Income Fund A Accumulation HKD Units, HKD. The Fund size quoted includes all classes of the Fund. Investment involves risks. Price of unitsmay go down as well as up. Past performance is not indicative of future performance. Pleaserefer to the relevant offering documents for fund details including risk factors. This material isissued by Schroder Investment Management (Hong Kong) Limited and has not been reviewedby the SFC. Performance is calculated from the share class's since launch date (27.06.2011).The names of the target and comparator(s) benchmarks may be displayed in abbreviationformat, please refer to the Benchmark and corporate action information section for the fullbenchmark names.

Fund literature

Download the offeringdocuments and investor noticehere

Ratings and accreditation

Please refer to the Source and ratingsinformation section for details on the iconsshown above.

Fund facts

Fund manager Asia Multi-Asset team ledby Keiko Kondo

Fund launch date 27.06.2011Fund base currency HKDFund size (Million) HKD 30,121.38Unit NAV HKD 168.0150Hi/Lo (past 12 mths) HKD 175.3150 / HKD

158.4199Annualized Return (3Y) 4.86%

Fees & expenses

Initial charge up to 5.00%Annual managementfee

1.25%

Redemption fee 0.00%

Schroder Asian Asset Income Fund

A Accumulation HKD | Data as at 30.11.2021

http://schroders.com.hk/


Return of HKD 100,000

Schroder Asian Asset Income Fund A Accumulation HKD

Jan-17 Jan-18 Jan-19 Jan-20 Jan-2190,000

100,000

110,000

120,000

130,000

140,000

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

Past Performance is not a guide to future performance and may not be repeated. The value of investments and the income from them may go down as well as up andinvestors may not get back the amounts originally invested. Exchange rate changes maycause the value of any overseas investments to rise or fall. The chart is for illustrative purposes only and does not reflect an actual return on anyinvestment. Returns are calculated NAV to NAV (which means performance does not include the effect ofany initial charges), net income reinvested, net of fees.

Codes

ISIN HK0000081841Bloomberg SCAAHAA HK

Risk statistics & financial ratios

Fund

Annual volatility (%)(3y)

11.0

Source: Morningstar. The above ratios are basedon NAV to NAV price based performance data.

Asset allocation

Geographical breakdown (%)

Asset Type Equities FixedIncome

Total

China 8.9 13.0 21.9

Hong Kong 7.2 4.6 11.8

Australia 9.1 0.9 10.1

India 6.6 2.8 9.4

Singapore 6.6 1.4 8.0

Korea 5.9 1.4 7.4

Taiwan 7.0 0.3 7.2

Global ex Asia Allocation 0.0 0.0 4.3

Indonesia 0.1 4.2 4.3

Philippines 0.0 2.0 2.0

Thailand 0.8 0.9 1.8

Others 5.2 -2.2 3.0

Cash & Cash Equivalents 0.0 0.0 8.8

Total 57.6 29.3 100.0

Sector (%)

Asset Type Equities FixedIncome

Total

Financials 6.6 9.4 16.0

Technology 10.7 1.0 11.7

Utilities 8.9 2.8 11.7

REITs 11.5 0.0 11.5

Real estate 0.8 6.7 7.5

Communications 5.5 1.6 7.1

Consumer Discretionary 3.0 1.8 4.8

Materials 3.4 1.1 4.5

Energy 0.4 3.9 4.3

Global ex Asia Allocation 0.0 0.0 4.3

Government 0.0 4.2 4.2

Others 6.8 -3.2 3.6

Cash & Cash Equivalents 0.0 0.0 8.8

Total 57.6 29.3 100.0

Top 5 equity (%)

Holding name %

SAMSUNG ELECTRONICS LTD 2.2

AUSNET SERVICES LTD 2.1

NOVATEK MICROELECTRONICS CORP 2.0

HK ELECTRIC INVESTMENTS UNITS LTD 1.9

TAIWAN SEMICONDUCTOR MANUFACTURING 1.4





Top 5 fixed income (%)

Holding name %

SHINHAN BANK MTN RegS 3.875% 24/03/26 0.4

CK HUTCHISON INTERNATIONAL (17) LT RegS 3.500%05/04/27

0.4

CHINA CINDA FINANCE (2017) I LTD MTN RegS 4.100%09/03/24

0.4

TENCENT HOLDINGS LTD MTN RegS 3.595% 19/01/28 0.4

PETRONAS CAPITAL LTD MTN RegS 2.480% 28/01/32 0.4

Source: Schroders.Percentages of allocation may not sum up to 100% due to rounding issue. ^Includes a small amount of indirect investment in mainland China. The“Others” asset type may include equity and fixed income futures, if held by the fund. The total amount of Equities and Fixed Income securities statedin the Geographical Breakdown and Sector tables may differ due to rounding adjustments. The total holding of 100% can be derived by addingEquities, Fixed Income, Global Ex Asia Allocation along with Cash & Cash Equivalents.

Share class available

A Accumulation HKD A Distribution HKD A Accumulation USD A Distribution USD A Distribution AUDHedged

Distribution Policy No Distribution Monthly Variable No Distribution Monthly Variable Monthly Variable

ISIN HK0000081841 HK0000081908 HK0000081874 HK0000081932 HK0000126141

Bloomberg SCAAHAA HK SCAAHAD HK SCAAUAA HK SCAAUAD HK SCAAIAA HK

A Accumulation GBPHedged

A Distribution GBPHedged

X Accumulation HKD X Accumulation USD

Distribution Policy Monthly Variable No Distribution Monthly Variable No Distribution No Distribution

ISIN HK0000169232 HK0000311750 HK0000311743 HK0000445269 HK0000445251

Bloomberg SCAAAHR HK SCAAAHG HK SCAADHG HK SCAAHXA HK SCAAUXA HK

Important information

The CNH Hedged share class mentioned in this factsheet refer to RMB Hedged share class in the relevant offering documents.

Morningstar Rating as at 11/30/2021: © Morningstar 2021. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstarand/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstarnor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee offuture results.

Distribution PolicyISINBloomberg

Monthly

HK0000501814

-

X Distribution USD

Monthly

HK0000501822

-

X Distribution HKD

A Distribution CNH Hedged




Schroder Asian Asset Income FundTap into sound opportunities 31 October 2021

Important Information:The fund invests primarily in Asian (including countries in Asia-Pacific) equities and fixed income securities which aim to offer attractive yields and sustainable dividend payments. The fund will have limited Renminbi (RMB) denominated underlying investments.1. The fund invests in equity would subject to equity investment risk.2. The fund investment in fixed income securities may be subject to credit and counterparty, credit rating risk, etc.. The fund investment in below

investment grade and/or unrated debt securities may be subject to higher degree of the above risks.3. The fund’s investment in emerging and less developed markets may be subject to significant risks such as ownership and custody risks,

political and economic risks, market and settlement risks, etc.4 The fund may invest into investments denominated in currencies other than the fund’s base currency and subject to currency and exchange risk.

If the investor’s based currency is a different currency than the share class’s currency being invested in, the investor needs to carry out conversion and would involve conversion costs. RMB is currently not freely convertible. There is no assurance that RMB will not be subject to devaluation.

5. The fund may invest in derivatives for hedging purposes. In adverse situations, the fund’s use of derivatives may become ineffective inhedging and the fund may suffer significant losses. Risks associated with derivatives include counterparty risk, credit risk and liquidity risk.Such exposure may lead to a high risk of capital loss.

6. In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed.Distribution yield is not indicative of the return of the fund. Distribution may be paid from capital of the fund. Investors should note thatwhere the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount youoriginally invested or capital gains attributable to that and may result in an immediate decrease in the value of units.

You should not make any investment decision solely based on this document. Please read the relevant offering document carefully for further fund details including risk factors.

Get On The Right Track

1

60%

35%

58%

39%

40%

36%

1%

20%5%

5% 5%

1%

45% 50%

How can investors best tap into the investment opportunities in Asia whilst coping with the ever changing market environment?

The Schroder Asian Asset Income Fund has been designed to capture the income and growth opportunities wherever they are in Asia, whilst also actively managing potential risks and volatility which is particularly important now, given the current turbulent markets. Having launched in 2011, the strategy is tried and tested across a full market cycle.

Why invest in the Schroder Asian Asset Income Fund?

Stable Income StreamThe fund invests in high quality Asian businesses, which have proven track records of generating sustainable cash flows, giving the fund a reliable income stream. This is particularly important now, given the current heightened market volatility, lower interest rate environment and downward pressure on yields.

The fund derives its income from multiple sources such as dividend yielding Asian equities, bonds and cash. This fund makes available multiple currencies and monthly distributing share classes (Dividends are not guaranteed and may be paid out of capital)^ to cater to different needs. The monthly payout is variable.

For more information on the historical monthly dividend records, please refer to our fund dividend page in Schroders website.

Active Asset Allocation Improves Potential Returns And Manages RisksThe fund’s flexible approach to investing within and across different asset classes aims to deliver more consistent returns during all phases of the economic cycle. The investment team can increase equity exposure to enhance returns as opportunities arise, and hold government bonds and cash to manage risk when they feel a more defensive stance is required.

Source: Schroders. For illustration purposes only. The fund’s actual investments may differ from the model portfolio.Asian markets mentioned above included markets in Asia-Pacific.

A Distribution unit class (Applicable to A Dis USD and HKD classes)historical payout of 4.75% p.a. (as at 27 October 2021)^

Economic CycleThe fund is dynamically managed across:

Asian Bonds Asian Equities Cash Other Asset Classes

20% - 70%Asian Bonds

0% - 30%Cash

30% - 70%Asian Equities

Recession Expansion

Slowdown

Recovery

0% - 20%Other Asset Classes

MONTHLY PAYOUT(Dividends are

not guaranteed and may be paid out of

capital)^

Asian Equities

Cash

Other Asset Classes

Asian Bonds

4.75^

(%)3025201510

50

-510/16 10/17 10/18 10/19 10/20 10/21

# Percentages of allocation may not sum up to 100% due to rounding issue. The “Others” asset type may include equity and fixed income futures, if held by the fund.^ In respect of the distribution units, the manager will declare and pay monthly distributions. However, the distribution rate is not guaranteed. Distribution yield is not indicative of

the return of the fund. Distribution may be paid from capital of the fund. Investors should note that where the payment of distributions are paid out of capital, this represents and amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units.

* Includes a small amount of indirect investment in mainland China.All fund information as at 31/10/2021. Source: Schroders unless stated otherwise. Fund performance based on Class A Accumulation; NAV-NAV in HKD with net income re-invested,net of fees. The fund size quoted includes all classes of the fund. Performance is calculated from the share class’s since launch date (27/06/2011).Investment involves risks. Past performance is not indicative of future performance. Please refer to the relevant offering documents for fund details including risk factors. This material, including the website, is issued by Schroder Investment Management (Hong Kong) Limited and has not been reviewed by the SFC.Management Company: Schroder Investment Management (Hong Kong) Limited, Level 33, Two Pacific Place, 88 Queensway, Hong Kong.Supervisory Authority: Securities and Futures Commission, 54/F, One Island East, 18 Westlands Road, Quarry Bay, Hong Kong.

AusNet Services Ltd 2.2Samsung Electronics Ltd 2.2HK Electric Investments Units Ltd 1.9Novatek Microelectronics Corp 1.9Naver Corp 1.4

Shinhan Bank Mtn RegS 3.875% 24/03/2026 0.4CK Hutchison International (17)Lt RegS 3.5% 05/04/2027 0.4China Cinda Finance (2017) I Ltd Mtn RegS 4.1% 09/03/2024 0.4Tencent Holdings Ltd Mtn RegS 3.595% 19/01/2028 0.4Petronas Capital Ltd Mtn RegS 2.48% 28/01/2032 0.4

A Dis – HKDA Dis – USDA Dis – AUD HedgedA Dis – RMB HedgedA Dis – GBP HedgedA Acc – HKDA Acc – USDA Acc – GBP Hedged

HK0000081908HK0000081932HK0000126141HK0000169232HK0000311743HK0000081841HK0000081874HK0000311750

SCAAHAD HKSCAAUAD HKSCAAIAA HKSCAAAHR HKSCAADHG HKSCAAHAA HKSCAAUAA HKSCAAAHG HK

VariableVariableVariableVariableVariableN/AN/AN/A

MonthlyMonthlyMonthlyMonthlyMonthlyN/AN/AN/A

Unit classes Distribution per unit

Price on record date (27/10/2021)

Fund features– A Distribution unit class offers a monthly payout (Distribution

rate is not guaranteed, and payment of distributions could bepaid out from capital)^

– Capture Asia’s strong growth potential through investment in Asian high dividend yielding equities and high yield bonds

– Enjoy the capital growth potential of other assets– Active asset allocation to manage risk

Distribution policy and frequency

Dividend distribution record^

Geographical allocation# (%)

Holdings (%)

Holdings (%)

Equity

Fixed income

Top holdings

Upcoming distribution record date

Note: The distribution record date may subject to change.

A Dis – HKDA Dis – USDA Dis – AUD HedgedA Dis – RMB HedgedA Dis – GBP Hedged

0.4008850.0401440.0348210.5785410.036177

101.284710.1424

9.285695.7532

9.6471

9.211.0

6.96.56.96.06.66.0

–

–

22.611.911.4

9.38.37.46.9

11.04.3

7.0

13.40.94.52.81.41.40.34.9

–

–

Asian equities Total

Asian fixedincome

17/11/2021 15/12/2021


2

ChinaAustraliaHong KongIndiaSingaporeKoreaTaiwanOthersGlobal ex Asia AllocationCash & Cash Equivalents

Fund performance

Fund

Fund 1.8 6.511.6 -5.1 14.1

Cumulative performance (%)

Annual performance (%) 2020 2019 2018

-1.93.0 79.214.1 18.6 23.6

YTD 3-mth 1Yr 3Yrs 5Yrs 10Yrs

2017 2016

Fund

Unit classes ISIN code Bloomberg ticker

Distribution policy

Distribution frequency

Source: Morningstar

FinancialsUtilitiesREITsTechnologyReal EstateCommunicationsMaterialsOthersGlobal ex Asia AllocationCash & Cash Equivalents

Sector allocation# (%)

6.89.9

11.810.0

0.95.43.9

10.5–

–

16.112.711.810.9

8.06.95.1

17.34.3

7.0

9.32.7

–1.07.11.51.36.7

–

–

Asian equities Total

Asian fixedincome

Fund objective

Unit NAV (class A Acc)

Hi/Lo (past 12 mths, class A Acc)

Base currency

Fund manager

Launch date

Fund size (million)

Initial charge up to (class A)

Management fee (class A)

Dealing frequency

Reference benchmark

Financial year end

Key informationThe fund’s investment objective is to provide income and capital growth over the medium to longer term by investing primarily in Asian (including countries in Asia-Pacific) equities and fixed income securities.

HKD 169.5470

HKD 175.3150/149.1649

HKD

Asia Multi-Asset Team led by Keiko Kondo

27/06/2011

HKD 30,662.75

5%

1.25% p.a.

Daily

50% MSCI AC Asia Pacific ex Japan Index and 50% JP Morgan Asia Credit Index

30/6

1

PRODUCT KEY FACTS Schroder Asian Asset Income Fund

Issuer: Schroder Investment Management (Hong Kong) Limited October 2021

This statement provides you with key information about this product. This statement is a part of the offering document.

You should not invest in this product based on this statement alone.

Quick facts

Manager: Schroder Investment Management (Hong Kong) Limited

Trustee: HSBC Institutional Trust Services (Asia) Limited

Ongoing charges over a year*: Class A AUD Hedged Dis 1.56% Class A RMB Hedged Dis 1.56%

Class A GBP Hedged Acc 1.56% Class A USD Acc 1.56%

Class A GBP Hedged Dis 1.56% Class A USD Dis 1.56%

Class A HKD Acc 1.56% Class C USD Acc 0.83%

Class A HKD Dis 1.56% Class X HKD Acc 1.55%

Class C HKD Acc 0.83% Class X USD Acc 1.55%

Class C HKD Dis 0.83% Class X HKD Dis 1.56%

Class X USD Dis 1.56%

Dealing frequency: Daily

Base currency: HKD

Dividend policy: A, C and X Accumulation Units – Dividend will not be distributed but will be reinvested into the fund.

A, C and X Distribution Units – Dividend will be distributed on a monthly basis. However, the distribution rate is not guaranteed.

Distributions may be paid out of capital and reduce the fund’s net asset value.

Financial year end of this fund: 30 June

Minimum investment: Initial – HKD5,000, RMB5,000 or USD1,000 (or equivalent), Subsequent

Investment – HKD5,000, RMB5,000 or USD1,000 (or equivalent)

* The ongoing charges figure is based on the annualised expenses for the interim period ended 31 December 2020. This figure may vary from year to year.

What is this product? This is a sub-fund of the Schroder Umbrella Fund II constituted in the form of an umbrella unit trust established under the laws of Hong Kong.


2

Objectives and investment strategy The fund aims to provide income and capital growth over the medium to longer term by investing primarily in Asian equities and Asian fixed income securities.

The fund will seek to achieve the investment objective primarily (i.e. at least 70% of its net asset value) through investment in a portfolio of equity and equity related securities of Asian (including countries in Asia-Pacific) companies which offer sustainable dividend payments, including real estate investment trusts, and bonds and other fixed or floating rate securities, of investment grade or below investment grade (at the time of or subsequent to acquisition), issued by governments, government agencies, supra-national and companies in Asia (including countries in Asia-Pacific).

The fund is not subject to any limitation on the portion of its net asset value that may be invested in any country in Asia (including countries in Asia-Pacific) or sector.

The fund may invest below 50% of its net asset value in bonds and debt securities which are below investment grade (i.e. rated below BBB-/Baa3 (or its equivalent) by any internationally recognised credit rating agency, such as Standard & Poor’s, Moody’s or Fitch, or rated AA- or below by any mainland China domestic credit rating agency; whenever different ratings are assigned by different credit rating agencies, the lowest credit ratings assigned to the security will be adopted by the fund) or unrated debt securities at the time of acquisition. For this purpose, if the relevant security does not itself have a credit rating, then reference can be made to the credit rating of the issuer of the security. If both the security and the relevant issuer are not rated, then the security will be classified as unrated. The manager will assess credit risks of fixed income instruments based on quantitative and qualitative fundamentals, including without limitation the issuer’s leverage, operating margin, return on capital, interest coverage, operating cash flows, industry outlook, firm’s competitive position and corporate governance issue.

The fund may invest up to 20% of its net asset value in debt instruments with loss-absorption features such as contingent convertible bonds, Additional Tier 1 capital notes and Tier 2 capital notes, capital security bonds, senior non-preferred debts and total loss-absorbing capacity bonds.

The fund may, if the manager considers fit, seek exposure of not more than 20% of its net asset value to other asset classes including but not limited to non-Asian securities and commodities (including energy, metals and agricultural commodities) indirectly through exchange traded funds and/or similar instruments.

The fund will actively allocate between Asian equities, Asian fixed income securities, other asset classes, cash and money market instruments to achieve the fund’s objective. The fund will use a cyclical approach to asset allocation where the asset mix will be adjusted according to the four phases of the economic cycle – recovery, expansion, slowdown and recession – based on a combination of fundamental and quantitative factors such as asset class valuation, macroeconomic data and liquidity. Cash and money market instruments will be treated as a separate asset class and will be deployed if necessary to limit downside risk during adverse market conditions. The fund’s expected asset allocation range for each asset class is expected to be the following: –

Asian equities: 30-70%

Asian fixed income: 20-70%

Other asset classes: 0-20%

Cash and money market instruments: 0-30%

The expected asset allocation of the fund is set out above for indicative purposes. Investors should note that the actual allocation may at times be varied from that shown above as market, economic and other conditions change.


3

In addition to active asset allocation, the fund will also perform active security selection for its investments in Asian equities, Asian fixed income and other asset classes. For the Asian equities portfolio, the fund intends to focus on companies that are able to create true shareholder value, have a strong and stable earnings stream and have a strong sustainable dividend yield. For the Asian fixed income portfolio, the fund intends to select securities that deliver capital growth taking into account both fundamental and technical views such as valuation, demand/supply conditions and liquidity. The fund will also perform duration management based on the manager’s interest rate views. Duration is a measure of the sensitivity of the portfolio value to changes in interest rates. Hence duration management means managing the impact that interest rate movements have on the value of the portfolio. For example, an increase in interest rates usually has a negative impact on the value of bonds, hence the manager would reduce the duration of the portfolio to reduce the effect from rising interest rates.

The fund may also utilize financial derivative instruments for the purposes of hedging and investment, although the manager is not obligated to do so. There can be no assurance that any financial derivative instruments employed by the manager will achieve desired results. Any financial derivative instrument used for investment purposes is subject to the investment restrictions applicable to the fund as disclosed in the Explanatory Memorandum.

Under exceptional circumstances (e.g. market crash or major crisis), the fund may hold up to 30% of its assets in cash and money market instruments such as bank deposits, certificates of deposit, commercial paper and treasury bills.

Investment in China A-shares may be made through the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect (collectively, the “Stock Connect”) (as further described in the section under the heading “Stock Connect” in the Explanatory Memorandum).

Indirect exposure to China A-shares may also be sought for the fund through investment in financial instruments such as China market access products. In addition, the fund will limit its gross risk exposure to each issuer of China market access products and/or derivative instruments linked to the performance of China A-shares to no more than 10% of its net asset value.

The fund may invest directly in fixed income and debt instruments issued or distributed in mainland China (“Onshore Chinese fixed income securities”). Direct exposure to Onshore Chinese fixed income securities may be gained via investing in mainland China interbank bond markets (“China Interbank Bond Market”) under Bond Connect (as further described in the section under the heading “Overview of China Interbank Bond Market” in the Explanatory Memorandum) and/or other means as may be permitted by the relevant regulations from time to time.

The fund’s aggregate direct and indirect exposure to China A-shares, China B-shares and Onshore Chinese fixed income securities will not exceed 20% of its net asset value.

The fund will have limited Renminbi (RMB) denominated underlying investments.

The manager will also manage the fund taking into account the distribution policy of the fund. Please refer to “Distribution” section of the Explanatory Memorandum for details.

Use of derivatives / investment in derivatives The fund’s net derivative exposure may be up to 50% of the fund’s net asset value.


4

What are the key risks? Investment involves risk. Please refer to the offering document for details including the risk factors.

1. Equity investment risk

– The fund’s investment in equity securities is subject to the risk that the market value may fluctuate due to numerous factors such as changes in investment sentiment, political environment, economic environment, issuer-specific factors, regional or global economic instability, currency and interest rate fluctuations. If the market value of the stocks go down the net asset value of the fund may be adversely affected.

2. Risks relating to investment in fixed income securities

– Below investment grade and unrated debt securities – Investments in fixed income securities below investment grade or unrated are generally subject to higher degree of counterparty risk, credit risk, volatility risk, liquidity risk and risk of loss of principal and interest than higher rated securities.

– Credit and counterparty risk – Investment in fixed income securities is subject to the credit/default risk of the issuer which may also adversely affect the settlement of the securities.

– Credit ratings risk – Credit ratings assigned by rating agencies are subject to limitations and do not guarantee the creditworthiness of the security and/or issuer at all times. The rating criteria and methodology used by Chinese local rating agencies may be different from those adopted by most of the established international credit rating agencies. Therefore, such rating system may not provide an equivalent standard for comparison with securities rated by international credit rating agencies.

– Interest rate risks – Investment in the fund is subject to interest rate risk. In general, the prices of debt securities rise when interest rates fall, whilst their prices fall when interest rates rise.

– Credit downgrading risk – The credit rating of fixed income securities or their issuers may be subsequently downgraded. In the event of such downgrading, the value of the fund may be adversely affected. The manager may not dispose of such securities immediately and the fund may therefore be subject to additional risk of loss.

– Liquidity and volatility risk – Securities not listed or rated or actively traded may have low liquidity and higher volatility, and their prices may be subject to fluctuations. The bid and offer spread of their price may be high and the fund may therefore incur significant trading costs and may even suffer losses when selling such instruments.

– Valuation risk – Valuation of the fund’s investment may involve uncertainties and judgmental determinations. If such valuation turns out to be incorrect, this may affect the net asset value calculation of the fund.

3. Risks relating to distributions

– The Manager may at its discretion make such distributions out of the capital of the fund. This amounts to a return or withdrawal of part of the amount you originally invested or capital gains attributable to that and may result in an immediate decrease in the value of units of the relevant Distribution Units.

– The distribution amount and net asset value of the hedged unit classes may be adversely affected by differences in the interest rates of the class currencies of the hedged unit classes and the fund’s base currency, resulting in an increase in the amount of distribution that is paid out of capital and hence a greater erosion of capital than other non-hedged unit classes.


5

4. Emerging and less developed markets securities risk

– The fund may invest in emerging and less developed markets. Investing in emerging and less developed markets is subject to greater risks than investing in securities of developed countries such as ownership and custody risks, political and economic risks, market and settlement risks, liquidity and volatility risk, legal and regulatory risks, execution and counterparty risk, and currency risk, which may adversely affect the net asset value per share of the fund and investors may as a result suffer losses.

5. Currency and exchange risk

– Investments acquired by the fund may be denominated in a wide range of currencies different from the base currency of the fund. Also, a unit class may also be denominated in a currency other than the base currency of the fund. The net asset value of the fund may be affected unfavourably by fluctuations in the exchange rates between these currencies and the base currency and by changes in exchange rate controls.

6. Risks relating to Real Estate Investment Trusts (“REITs”)

– The fund may be subject to risks similar to those associated with the direct ownership of real property (in addition to securities market risks) through its investment in REITs. The prices of REITs are affected by changes in the value of the underlying property owned by the REITs. REITs are dependent upon management skills and generally may not be diversified. Certain “special purpose” REITs in which the fund may invest may have their assets in specific real property sectors, such as hotel REITs, nursing home REITs or warehouse REITs, and are therefore subject to the risks associated with adverse developments in these sectors.

– The REITs invested in by the fund may not necessarily be authorized by the SFC and the distribution policy of the fund may not reflect the dividend policy of the underlying REITs.

7. Risks relating to hedging and the hedged classes

– There is no guarantee that the desired hedging instruments will be available or hedging techniques will be effective. The fund may suffer significant losses in adverse situation. Any expenses arising from such hedging transactions will be borne by the relevant hedged classes. Hedging may also preclude unitholders from benefiting from an increase in value in terms of the fund’s base currency.

8. Renminbi (“RMB”) currency risk and RMB classes related risk

– RMB is currently not freely convertible and is subject to foreign exchange control policies and restrictions.

– There can be no assurance that RMB will not be subject to depreciation. Any depreciation of RMB could adversely affect the value of investor’s investment in classes denominated in RMB.

– Classes denominated in RMB will be valued with reference to offshore RMB (“CNH”) rather than onshore RMB (“CNY”). While CNH and CNY represent the same currency, they are traded at different rates. Any divergence between CNH and CNY may adversely impact investors.

– Non-RMB based investors in classes denominated in RMB may have to convert HK dollar or other currency(ies) into RMB when investing in classes denominated in RMB and subsequently convert the RMB redemption proceeds and/or dividend payment (if any) back to HK dollar or such other currency(ies). Investors will incur currency conversion costs and you may suffer losses depending on the exchange rate movements of RMB relative to HK dollar or such other currencies.

– Under exceptional circumstances, payment of redemptions and/or dividend payment in RMB may be delayed due to the exchange controls and restrictions applicable to RMB.


6

9. Risks related to investments via the Stock Connect

– The relevant rules and regulations on the Stock Connect are subject to change which may have potential retrospective effect. The Stock Connect is subject to quota limitations. Where a suspension in the trading through the programme is effected, the fund’s ability to invest in China A-shares or access the mainland China market through the programme will be adversely affected. In such event, the fund’s ability to achieve its investment objective could be negatively affected.

10. Risks associated with China Interbank Bond Market

– Investing in the China Interbank Bond Market via Bond Connect is subject to regulatory risks and various risks such as volatility risk, liquidity risk, settlement and counterparty risk as well as other risk factors typically applicable to debt securities. The relevant rules and regulations on investment in the China Interbank Bond Market via Bond Connect are subject to change which may have potential retrospective effect. In the event that the relevant mainland China authorities suspend account opening or trading on the China Interbank Bond Market, the fund’s ability to invest in the China Interbank Bond Market will be adversely affected. In such event, the fund’s ability to achieve its investment objective will be negatively affected.

11. Financial derivative instruments (“FDI”)

– Risks associated with FDI include counterparty risk, credit risk, liquidity risk, valuation risk, volatility risk, over-the-counter transaction risk and hedging risk. The leverage element component of an FDI can result in a loss substantially greater than the amount invested in the FDI itself. Such exposure may lead to a high risk of significant capital loss.

How has the fund performed?

– Past performance information is not indicative of future performance. Investors may not get back the full amount invested.

– The computation basis of the performance is based on the calendar year end, NAV-To-NAV, with dividend reinvested.

– These figures show by how much the fund’s Class A HKD Accumulation increased or decreased in value during the calendar year being shown. Performance data has been calculated in HKD including ongoing charges and excluding subscription fee and redemption fee you might have to pay.

– Where no past performance is shown there was insufficient data available in that year to provide performance.

– Fund launch date: 2011

– Class A HKD Accumulation launch date: 2011

– The manager views the Class A HKD Accumulation, being the retail unit class denominated in the base currency of the fund, as the most appropriate representative unit class of the fund.

Note: The performance of these years was achieved under circumstances that no longer apply. During these years, there was material change(s) to the fund, namely, changes of investment objective and policy and reduction of fee(s).

26.1%

0.8%

10.4%

-3.4%

6.5%

14.1%

-5.1%

11.6%

1.8%

-10%

0%

10%

20%

30%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Note


7

Is there any guarantee? This fund does not have any guarantees. You may not get back the full amount of money you invest.

What are the fees and charges? Charges which may be payable by you

You may have to pay the following fees when dealing in the units of the fund.

Fee What you pay

Unit class A C X

Subscription fee (Initial charge) Up to 5% of the gross investment amount

Switching fee Up to 5% of the switching amount

Redemption fee (Redemption charge) Nil

Ongoing fees payable by the fund

The following expenses will be paid out of the fund. They affect you because they reduce the return you get on your investments.

Annual rate (as a % of the fund’s net asset value)

Unit class A C X

Management fee* 1.25% 0.625% 1.25%

Trustee fee 0.07% (Subject to a minimum fee of HKD156,000 per annum)

Performance fee Not applicable

Administration fee (Service Provider’s costs)

0.02% to 0.2%

* The fee may be increased up to a maximum annual rate of 7% of the net asset value of the fund after giving at least one month’s prior notice to unitholders.

Other fees

You may have to pay other fees when dealing in the units of the fund. Please refer to the offering document for fees payable by the fund.


8

Additional information – You generally buy and redeem units at the fund’s next-determined net asset value (NAV) after Schroder

Investment Management (Hong Kong) Limited receives your request, directly or via a distributor, in good order at or before 5 pm HK time, being the fund’s dealing cut-off time on each dealing day of the fund. Before placing your subscription or redemption orders, please check with your distributor for the distributor’s internal dealing cut-off time (which may be earlier than the fund’s dealing cut-off time).

– Compositions of the distributions (i.e. the percentages of distribution being paid out of capital and net distributable income) for the last twelve months for each of the classes of Distribution Units paying distributions out of capital are available from the manager on request and on the Schroders’ Internet site (www.schroders.com.hk).

– Past performance information of other unit classes offered to Hong Kong investors is available online at www.schroders.com.hk.

– The net asset value of this fund is calculated and the price of units is published on each dealing day. They are also available online at www.schroders.com.hk. The website has not been reviewed by the SFC.

Important If you are in doubt, you should seek professional advice. The SFC takes no responsibility for the contents of this statement and makes no representation as to its accuracy or completeness.

如欲了解有關施羅德基金的更多資料，請瀏覽： schroders.com.hk 1

重要事項

基金主要投資於旨在提供吸引收益率和持續派發股息的亞洲(包括亞太區國家)股票和定息證券。基金將有限度地投資於以人民幣定值的投資項目。1. 基金投資股票證券涉及股票投資風險。2. 基金投資於定息證券或會承受信貸和對手方、信貸評級等風險。投資於低於投資級別或未獲評級的定息證券，與擁有較高評級證券相比，須承受較高之風險。3. 基金投資於新興和較落後的市場須承受顯著的風險，例如擁有權及保管權風險、政治和經濟風險、市場及結算風險等等。4. 基金可投資與基金基礎貨幣不同的貨幣單位須承受貨幣及兌換風險。若投資者的基本貨幣並非所投資的股份類別的貨幣，投資者需要進行貨幣兌換而涉及兌換成本。人民幣現時不可自由兌換。不保證人民幣不會貶值。5. 基金可能投資於衍生工具以進行對沖。在不利情況下，基金使用衍生工具或未能有效地對沖，基金可能承受重大虧損。涉及衍生工具的風險包括對手方風險、信貸風險、流動性風險，該等投資或須承受高度的資本虧損風險。6. 就收息單位而言，經理人會每月宣佈和派發股息。然而，息率並不保證。派息率並非基金回報之準則。基金在支付派息時，可從資本中支付派息。投資者應注意從資本中支付派息時，即表示及相當於從閣下原本投資的金額中，或從該等金額賺取的資本收益中退回或提取部份款項，可能即時導致單位價值下跌。閣下不應僅倚賴本文件而作出任何投資決定。請詳閱有關銷售文件以得悉基金之詳情包括風險因素。

投資目標

本基金的投資目標主要透過投資於亞洲（包括亞太區國家）股票和亞洲定息證券，以提供收益及中期至長期的資本增值。

股份類別表現（累計）

表現 (%) 1個月 3個月 6個月年初至今 1年 3年 5年 10年

基金 -0.9 -2.9 -3.6 2.1 6.5 15.3 25.4 83.1

年度表現 (%) 2016 2017 2018 2019 2020

基金 6.5 14.1 -5.1 11.6 1.8

5年表現(%)

施羅德亞洲高息股債基金港元A類別累積單位

2016 2017 2018 2019 2020-10.0%

0.0%

10.0%

20.0%

資料來源：晨星。以資產淨值價計算，收益再投資，已扣除費用，依據施羅德亞洲高息股債基金港元A類別累積單位、港元。 ~儘管基金旨在投資於提供吸引收益率和持續派發股息的證券，經理人可酌情決定息率。投資者不應理解為基金表示或暗示派息率獲得保證。本基金之資產值已涵蓋其所有類別。投資涉及風險。單位價格可跌可升。過往表現未必可作日後業績的準則。詳情（包括風險因素）請參閱有關銷售文件。本文件由施羅德投資管理（香港）有限公司刊發並未受香港證監會檢閱。基金表現由基金單位類別推出日期起計算 (即：27.06.2011)。目標和比較基準的名稱可能以縮寫的格式展示, 有關完整的基準名稱，請參閱基準和公司行為信息部分。

基金文件

於此下載銷售文件和投資者公告

評級和認證

請參考資料來源與評級說明，以獲取有關圖標的詳細信息。

基金資料

基金經理由Keiko Kondo領導的亞洲多元化資產投資團隊

基金推出日期 27.06.2011基金基本貨幣港元資產值（百萬元）港元 30,121.38單位資產淨值港元 168.0150最高／最低（過去十二個月）

港元 175.3150 / 港元158.4199

年度回報率（3年） 4.86%

費用和開支

首次認購費上限 5.00%管理年費 1.25%贖回費 0.00%

代碼

ISIN HK0000081841彭博代碼 SCAAHAA HK

施羅德亞洲高息股債基金~

港元A類別累積單位 | 數據截至 30.11.2021



港元 100,000 回報

施羅德亞洲高息股債基金港元A類別累積單位

01/-17 01/-18 01/-19 01/-20 01/-2190,000

100,000

110,000

120,000

130,000

140,000

-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

過往表現未必可作日後業績的準則，並不一定會再次重現。投資價值及所得收益可跌亦可升，投資者未必能取回投資本金。匯率變動可能造成海外投資價值的上升或下跌。本圖表僅供參考之用，並未反映任何投資的實際回報率。回報率以資產淨值價計算（這是指業績並不包含任何首次認購費）、收益再投資、扣除費用。

風險統計數據及財務比率

基金

年均相對波幅 (%)（3年）

11.0

資料來源：晨星。上述比率以按資產淨值價計算之基金表現為基礎。

資產分佈

地區資產分佈 (%)

資產類型股票債券總計

中國 8.9 13.0 21.9

香港 7.2 4.6 11.8

澳洲 9.1 0.9 10.1

印度 6.6 2.8 9.4

新加坡 6.6 1.4 8.0

韓國 5.9 1.4 7.4

台灣 7.0 0.3 7.2

環球 (亞洲除外)資產調配 0.0 0.0 4.3

印尼 0.1 4.2 4.3

菲律賓 0.0 2.0 2.0

泰國 0.8 0.9 1.8

其他 5.2 -2.2 3.0

現金及現金等值 0.0 0.0 8.8

總計 57.6 29.3 100.0

行業資產分佈 (%)

資產類型股票債券總計

金融 6.6 9.4 16.0

科技 10.7 1.0 11.7

公用事業 8.9 2.8 11.7

房地產投資信託基金 11.5 0.0 11.5

房地產 0.8 6.7 7.5

通訊 5.5 1.6 7.1

非必需消費品 3.0 1.8 4.8

原料 3.4 1.1 4.5

能源 0.4 3.9 4.3

環球 (亞洲除外)資產調配 0.0 0.0 4.3

政府 0.0 4.2 4.2

其他 6.8 -3.2 3.6

現金及現金等值 0.0 0.0 8.8

總計 57.6 29.3 100.0

5大主要股票投資 (%)

投資名稱 %

SAMSUNG ELECTRONICS LTD 2.2

AUSNET SERVICES LTD 2.1

NOVATEK MICROELECTRONICS CORP 2.0

HK ELECTRIC INVESTMENTS UNITS LTD 1.9

TAIWAN SEMICONDUCTOR MANUFACTURING 1.4





5大主要固定收益投資 (%)

投資名稱 %

SHINHAN BANK MTN RegS 3.875% 24/03/26 0.4

CK HUTCHISON INTERNATIONAL (17) LT RegS 3.500%05/04/27

0.4

CHINA CINDA FINANCE (2017) I LTD MTN RegS 4.100%09/03/24

0.4

TENCENT HOLDINGS LTD MTN RegS 3.595% 19/01/28 0.4

PETRONAS CAPITAL LTD MTN RegS 2.480% 28/01/32 0.4

資料來源: 施羅德投資。由於四捨五入的關係，分配相加的百分比可能不等於100％。 ^包含少量間接投資於中國內地的證券。如果基金包含“其他”資產類型，則可能包括股票和固定收益期貨。由於四捨五入的調整，在“地區資產分佈”和“行業資產分佈”表中所述的股票和固定收益證券的總量可能會有所不同。可以通過將股票，固定收益，環球 (亞洲除外)資產調配以及現金及現金等價物相加得出100％的總持有量。

可認購股份類別

港元A類別累積單位港元A類別收息單位美元A類別累積單位美元A類別收息單位 (澳元對沖) A類別收息單位

派息政策無派息每月可變無派息每月可變每月可變

ISIN HK0000081841 HK0000081908 HK0000081874 HK0000081932 HK0000126141

彭博代碼 SCAAHAA HK SCAAHAD HK SCAAUAA HK SCAAUAD HK SCAAIAA HK

(人民幣對沖) A類別收息單位

(英鎊對沖) A類別累積單位

(英鎊對沖) A類別收息單位

港元X類別累積單位美元X類別累積單位

派息政策每月可變無派息每月可變無派息無派息

ISIN HK0000169232 HK0000311750 HK0000311743 HK0000445269 HK0000445251

彭博代碼 SCAAAHR HK SCAAAHG HK SCAADHG HK SCAAHXA HK SCAAUXA HK

重要事項

晨星評級截至 11/30/2021：© Morningstar 2021.保留所有權利。此處包含的資訊為：（1）為晨星和/或其內容提供者所專有；（2）不得複製或流通；以及（3）並不保證是準確、完全或及時的。晨星及其內容提供者對於使用這些資訊所造成的損害或損失，概不承擔任何責任。過往表現未必可作日後業績的準則。

派息政策

ISIN

彭博代碼

港元X類別收息單位

每月

HK0000501814

-

美元X類別收息單位

每月

HK0000501814

-




施羅德亞洲高息股債基金掌握亞洲動力點擊聲「息」機遇2021年10月31日

重要事項：基金主要投資於旨在提供吸引收益率和持續派發股息的亞洲（包括亞太區國家）股票和定息證券。基金將有限度地投資於以人民幣定值的投資項目。1.基金投資股票證券涉及股票投資風險。2.基金投資於定息證券或會承受信貸和對手方、信貸評級等風險。投資於低於投資級別或未獲評級的定息證券，與擁有較高評級證券相比，須承受較高之風險。

3.基金投資於新興和較落後的市場須承受顯著的風險，例如擁有權及保管權風險、政治和經濟風險、市場及結算風險等等。4.基金可投資與基金基礎貨幣不同的貨幣單位須承受貨幣及兌換風險。若投資者的基本貨幣並非所投資的股份類別的貨幣，投資者需要進行貨幣兌換而涉及兌換成本。人民幣現時不可自由兌換。不保證人民幣不會貶值。

5.基金可能投資於衍生工具以進行對沖。在不利情況下，基金使用衍生工具或未能有效地對沖，基金可能承受重大虧損。涉及衍生工具的風險包括對手方風險、信貸風險、流動性風險，該等投資或須承受高度的資本虧損風險。

6.就收息單位而言，經理人會每月宣佈和派發股息。然而，息率並不保證。派息率並非基金回報之準則。基金在支付派息時，可從資本中支付派息。投資者應注意從資本中支付派息時，即表示及相當於從閣下原本投資的金額中，或從該等金額賺取的資本收益中退回或提取部份款項，可能即時導致單位價值下跌。閣下不應僅倚賴本文件而作出任何投資決定。請詳閱有關銷售文件以得悉基金之詳情包括風險因素。

投資前路靈活有道

60%

35%

58%

39%

40%

36%

1%

20%5%

5% 5%

1%

45% 50%

面對瞬息萬變的市場環境，投資者應如何捕捉亞洲的投資潛力？

施羅德亞洲高息股債基金旨在捕捉亞洲區內的收益和增長機遇，同時主動管理潛在市場風險和波幅，在目前的波動市況下尤為重要。自2011年成立以來，基金的投資策略經得起整個市場周期的驗證。

為何投資於施羅德亞洲高息股債基金？

匯聚穩定收益來源基金投資於亞洲優質企業，這些企業過往一直能夠提供可持續的現金流，為基金帶來可靠的收益來源。在目前市場波幅上升、低息環境持續及利率面臨進一步下降壓力時，這些特質尤為重要。

基金透過不同的收益來源網羅機遇，當中包括亞洲收息股票、債券和現金等，並且設有多種貨幣和每月派息單位類別（息率並不保證，派息可從資本中支付）̂，派息政策並不固定，切合不同投資需求。

如需了解更多過往每月派息詳情，請瀏覽施羅德投資網站的基金派息專頁。

靈活資產配置提升潛在回報及管理風險基金以靈活策略投資於不同資產類別，務求在經濟周期的不同階段仍能提供相約的回報。投資團隊透過調整持倉比重以管理風險，伺機增持股票以提高潛在回報，並在有需要採取防守性策略時持有政府債券和現金。

資料來源：施羅德投資。以上資料只供參考用途。實際資產分佈或有別於上述所示的範圍。

A類收息單位類別（適用於A類收息 — 美元及港元類別）過往年息率為4.75%（截至2021年10月27日）̂

經濟週期基金靈活配置於：

亞洲債券亞洲股票現金其他資產類別

20% - 70%亞洲債券

0% - 30%現金

30% - 70%亞洲股票

經濟衰退經濟擴張

經濟放緩

經濟復甦

0% - 20%其他資產類別

1上述亞洲市場包括亞太區市場。

每月派息（息率並不保證，

派息可從資本中支付）̂

亞洲股票

現金

其他資產類別

亞洲債券

4.75^

(%)3025201510

50

-510/16 10/17 10/18 10/19 10/20 10/21

2

中國澳洲香港印度新加坡韓國台灣其他環球（亞洲除外）資產調配現金及現金等值

金融公用事業房地產投資信託基金科技房地產通訊原料其他環球（亞洲除外）資產調配現金及現金等值

比重 (%)債券

# 由於四捨五入的關係，各項百分比相加後未必等於100%。若基金持有股票和固定收益期貨，其持倉比重將於「其他」資產類別中反映。r 儘管基金旨在投資於提供吸引收益率和持續派發股息的證券，經理人可酌情決定息率。投資者不應理解為基金表示或暗示派息率獲得保證。^ 就收息單位而言，經理人會每月宣佈和派發股息。然而，息率並不保證。派息率並非基金回報之準則。基金在支付派息時，可從資本中支付派息。投資者應注意從資本中

支付派息時，即表示及相當於從閣下原本投資的金額中，或從該等金額賺取的資本收益中退回或提取部份款項，可能即時導致單位價值下跌。* 包含少量間接投資於中國內地的證券。所有基金資料截至31/10/2021。資料來源 : 施羅德投資（除另外說明）。基金表現以A類累積（港元）資產淨值價計算，收益再投資，已扣除費用。本基金之資產值已涵蓋其所有類別。基金表現由基金單位類別推出日期起計算（即27/06/2011）。投資涉及風險。過往表現未必可作日後業績的準則。詳情（包括風險因素）請參閱有關銷售文件。本文件及網站由施羅德投資管理（香港）有限公司刊發及並未受證監會檢閱。管理公司：施羅德投資管理（香港）有限公司，香港金鐘道88號太古廣場二座33字樓。監管機構：證券及期貨事務監察委員會，香港鰂魚涌華蘭路18號，港島東中心54樓。

AusNet Services Ltd 2.2Samsung Electronics Ltd 2.2HK Electric Investments Units Ltd 1.9Novatek Microelectronics Corp 1.9Naver Corp 1.4

基金特色

– A類收息單位每月派息（息率並不保證，派息可從資本中支付）̂– 透過高息股票及債券，捕捉亞洲的高增長潛力– 兼享其他資產種類的升值潛力– 靈活資產配置，調控風險

地區分佈# (%)

行業分佈# (%)

比重 (%)證券

主要投資

9.211.0

6.96.56.96.06.66.0

––

6.89.9

11.810.0

0.95.43.9

10.5––

22.611.911.4

9.38.37.46.9

11.04.37.0

16.112.711.810.9

8.06.95.1

17.34.37.0

13.40.94.52.81.41.40.34.9

––

9.32.7

–1.07.11.51.36.7

––

亞洲股票

亞洲股票

總計

總計

亞洲債券

亞洲債券

施羅德亞洲高息股債基金

派息政策及次數

單位類別每單位派息

派息紀錄^

紀錄日之基金價格 (27/10/2021)

預定派息紀錄日

註：上述派息紀錄日可能更改。

A 類收息 — 港元A 類收息 — 美元A 類收息 — 澳元對沖A 類收息 — 人民幣對沖A 類收息 — 英鎊對沖

0.4008850.0401440.0348210.5785410.036177

101.284710.1424

9.285695.7532

9.6471

17/11/2021 15/12/2021

單位類別A 收息 — 港元A 收息 — 美元A 收息 — 澳元對沖A 收息 — 人民幣對沖A 收息 — 英鎊對沖A 累積 — 港元A 累積 — 美元A 累積 — 英鎊對沖

HK0000081908HK0000081932HK0000126141HK0000169232HK0000311743HK0000081841HK0000081874HK0000311750

ISIN 號碼彭博代碼派息政策派息次數SCAAHAD HKSCAAUAD HKSCAAIAA HKSCAAAHR HKSCAADHG HKSCAAHAA HKSCAAUAA HKSCAAAHG HK

每月每月每月每月每月不適用不適用不適用

不固定不固定不固定不固定不固定不適用不適用不適用

Shinhan Bank Mtn RegS 3.875% 24/03/2026 0.4CK Hutchison International (17)Lt RegS 3.5% 05/04/2027 0.4China Cinda Finance (2017) I Ltd Mtn RegS 4.1% 09/03/2024 0.4Tencent Holdings Ltd Mtn RegS 3.595% 19/01/2028 0.4Petronas Capital Ltd Mtn RegS 2.48% 28/01/2032 0.4

基金

基金表現

基金

基金

-1.93.0

1.8

79.2

6.5

14.1

11.6

18.6

-5.1

23.6

14.1

累積表現 (%)

年度表現 (%)

年初至今

2020

3個月 1年

2019

3年

2018

5年

2017

10年

2016

資料來源：晨星

投資目標

單位資產淨值（A類累積）

最高／最低（過去十二個月，A類累積）

基本貨幣

基金經理

推出日期

資產值（百萬元）

首次認購費上限（A類）

管理年費（A類）

交易日

參考基準指數

財政年度結算日

基金資料

本基金的投資目標主要透過投資於亞洲（包括亞太區國家）股票和定息證券，以提供收益及中期至長期的資本增值。

169.5470 港元

175.3150/149.1649 港元

港元

由 Keiko Kondo 領導的亞洲多元化資產投資團隊

27/06/2011

30,662.75 港元

5%

每年1.25%

每日

50% MSCI AC Asia Pacific ex Japan 指數及 50% JP Morgan Asia Credit 指數

30/6

1

產品資料概要施羅德亞洲高息股債基金1

發行人：施羅德投資管理（香港）有限公司 2021年10月

本概要提供本基金的重要資料，是銷售文件的一部分。

請勿單憑本概要作投資決定。

資料便覽

經理人：施羅德投資管理（香港）有限公司

受託人：滙豐機構信託服務（亞洲）有限公司

全年經常性開支比率*： A類別（澳元對沖收息） 1.56% A類別（人民幣對沖收息） 1.56%

A類別（英鎊對沖累積） 1.56% A類別（美元累積） 1.56%

A類別（英鎊對沖收息） 1.56% A類別（美元收息） 1.56%

A類別（港元累積） 1.56% C類別（美元累積） 0.83%

A類別（港元收息） 1.56% X類別（港元累積） 1.55%

C類別（港元累積） 0.83% X類別（美元累積） 1.55%

C類別（港元收息） 0.83% X類別（港元收息） 1.56%

X類別（美元收息） 1.56%

交易頻密程度：每日

基本貨幣：港元

派息政策： A, C及X累積單位－不會派發股息，但會將股息再投資於基金。

A, C及X收息單位－將每月派息。然而，經理人不會對派息率作出保證。

派息可從資本中扣除，從而減低基金的資產淨值。

財政年終結日： 6月30日

最低投資額：首次投資－5,000港元、5,000元人民幣或1,000美元（或等值金額）；額外認購－5,000港元、5,000元人民幣或1,000美元（或等值金額）

* 全年經常性開支比率是根據截至2020年12月31日的半年度年率化費用計算，每年均可能有所變動。

本基金是什麼產品？

本基金為施羅德傘型基金II旗下的一項子基金，施羅德傘型基金II為一項依香港法例成立的傘型單位信託基金。

1 儘管本基金旨在投資於提供吸引收益率和持續派發股息的證券，經理人可酌情決定息率。投資者不應理解為本基金表示或暗示派息率獲得保證。


2

目標及投資策略

主要透過投資於亞洲股票和亞洲定息證券，以提供收益及中期至長期的資本增值。

基金主要（即至少其資產淨值的70%）透過投資於一籃子提供持續派發股息的亞洲（包括亞太區國家）公司的股本和股本相關證券，包括房地產投資基金，以及由亞洲（包括亞太區國家）各地政府、政府機構、跨國家機構及公司發行的債券和其他定息或浮息證券（該等證券在購入時或購入後可能是具有投資級別或投資級別以下的證券），以達致投資目標。

基金可投資於任何亞洲國家（包括亞太區國家）或行業的資產淨值的有關部分並不受任何限制。

基金可將少於其資產淨值的50%投資於在購買時評級低於投資級別（即任何國際認可信貸評級機構，如標準普爾、穆廸或惠譽評為BBB-╱或Baa3（或其相等級別）以下級別，或由任何中國國內信貸評級機構評為AA-或以下級別；當各信貸評級機構的評級有別，子基金將採用當中最低的級別）或未獲評級的債務證券。為此，如有關證券本身沒有信貸評級，可參考該證券發行商的信貸評級。如證券和其發行商均沒有評級，則證券將被分類為未獲評級的證券。經理人將按照定量和定性的基本因素，包括但不限於發行人的槓桿水平、營業利潤率、資本回報率、利息覆蓋率、營運現金流、行業展望、公司的競爭地位和企業管治事宜，來評估定息工具的信貸風險。

子基金可將其資產淨值最多20%投資於具虧損吸收特性的債務工具，例如：或有可轉換債券、額外一級資本票據及二級資本票據、資本抵押債券、高級非優先債務和總虧損吸收能力債券。

如經理人認為合適，基金可將不超過20%的資產淨值透過交易所交易基金及╱或類似的工具，間接投資於其他種類的資產，包括但不限於非亞洲證券、商品（包括能源、金屬和農產品）。

基金將積極地將投資在亞洲股票、亞洲定息證券、其他種類的資產、現金和貨幣市場工具之間進行配置，以達致基金的目標。基金將運用周期性方針配置資產，即資產將依經濟周期的四個階段－復甦、膨脹、放緩和衰退，按基礎和定量因素如資產種類估值、宏觀經濟數據和流動性調整資產組合。現金和貨幣市場工具將被視為獨立的資產種類，如有需要，在不利市況時將被用作限制下跌的風險。基金各資產種類的預計資產配置範圍如下：－

亞洲股票：30-70%

亞洲定息收益：20-70%

其他資產種類：0-20%

現金和貨幣市場工具：0-30%

上文所載基金的預計資產配置僅作參考用途。投資者應注意，實際的配置可不時因應市場、經濟及其他狀況的變動而有所變更。


3

在積極的資產配置以外，基金亦會積極地在亞洲股票、亞洲定息收益和其他資產種類中挑選投資項目。就亞洲股票組合而言，基金打算集中在能夠產生真正的股東價值、擁有強而穩定的收入來源，和提供高而持續的股息收益的公司。至於亞洲定息收益組合，基金打算以參考基礎和技術意見如估值、供應和需求情況，及流動性來選擇提供資本增值的證券。基金亦會基於經理人對利率的看法而進行存續期管理。存續期是量度投資組合價值對利率改變的敏感度。因此，存續期管理即是管理利率走勢對投資組合價值的影響。例如，利率上升通常對債券的價值有負面影響，故經理人會減低投資組合的存續期以減少利率上升時引致的影響。

基金亦可為對沖及投資的目的運用金融衍生工具，縱使經理人並無責任就此作出行動。概不保證經理人採用的任何金融衍生工具將可取得預期成果。誠如解釋說明書所披露，就投資目的使用的任何金融衍生工具須遵守基金適用的投資限制。

在特殊情況下（例如：股災或重大危機），基金可持有的現金及貨幣市場工具如銀行存款、存款證、商業票據及庫券不得超過其資產的30%。

投資於中國A股可經滬港股票市場交易互聯互通機制和深港股票市場交易互聯互通機制（合稱為「互聯互通機制」）進行。詳情載於解釋說明書內「互聯互通機制」一節。

基金可透過投資於金融工具如某些可進入中國市場的產品，間接投資於中國A股。此外，基金將限制其於可進入中國市場的產品及／或與中國A股表現掛鉤的衍生產品的各發行人的總投資為不超過其資產淨值的10%。

基金可直接投資於在中國內地發行或銷售的定息和債務工具 (「境內中國定息證券」)。於透過根據債券通（誠如解釋說明書內標題為「中國銀行間債券市場概況」一節中進一步描述）及／或有關規例可能不時允許的其他方式投資於中國銀行間債券市場（「中國銀行間債券市場」）可獲得對境內中國定息證券的直接投資。

基金於中國A股、中國B股及中國境內定息證券的直接和間接總投資將不會超過其資產淨值的20%。

基金將有限度地投資於以人民幣定值的投資項目。

經理人管理基金時亦會考慮基金的派息政策。詳情請參閱解釋說明書內標題為「派息」一節。

運用衍生工具／投資於衍生工具

基金的衍生工具風險承擔淨額最高可達基金資產淨值的50%。


4

基金有哪些主要風險？投資涉及風險。請參閱銷售文件，了解風險因素等資料。

1. 股票投資風險

－基金於股本證券的投資，須承受市值波動的風險。市值波動的因素很多，例如投資情緒、政治環境和經濟環境的改變、有關發行商的獨特因素、區域性或環球性的經濟不穩、貨幣和利率的浮動。如股價下跌，基金的資產淨值亦可能受負面影響。

2. 有關投資於定息證券的風險

－低於投資級別和未獲評級的債務證券－投資於低於投資級別或未獲評級的定息證券，與擁有較高評級證券相比，一般承受較高程度的對手方風險、信用風險、波動性風險、流動性風險和本金虧損的風險。

－信貸和對手方風險－投資於定息證券承受發行商的信貸／違約風險，可能負面地影響證券的結算。

－信貸評級的風險－由信貸評級機構給予的信貸評級受若干限制，不可在所有時間保證證券和／或發行商的信貸價值。中國內地信貸評級機構使用的評級準則和方法或會有異於大多數資深的國際信貸評級機構所採用的評級準則和方法。故此，該等評級制度未必能提供與國際信貸評級機構同等的標準作證券評級比較之用。

－利率風險－投資於基金承受利率風險。一般來說，利率下跌時債務證券的價格會上升，而利率上升則價格會下跌。

－信貸評級被降低的風險－定息證券或其發行商的信貸級別可能在後來被降級。當被降級，基金的價值可能受負面影響。經理人未必即時出售該等證券，基金或會因而承受增加損失的風險。

－流動性和波動性風險－未上市、未獲評級或未有活躍交易的證券的流動性偏低和波動性偏高，其價格或會承受波動。該等證券的買賣差價或會偏高，基金在出售該等工具時可能會產生重大的交易成本，甚至可能蒙受損失。

－估值風險－對基金的投資進行的估值或涉及含糊和主觀的決定。假如該等估值原來是不正確的，可能影響基金的資產淨值計算。

3. 有關派息的風險

－經理人可酌情決定從基金的資本中支付派息。即相當於從閣下原本投資的金額中，或從該等金額賺取的資本增益中退回或提取部份款項，可能即時導致相關收息單位的價值下跌。

－基金基本貨幣和對沖單位類別之參考貨幣的利率差別可能負面地影響對沖單位類別的派息和資產淨值，導致從對沖單位類別資本中支付的利息和資本被侵蝕的程度較其他非對沖單位類別的為高。


5

4. 新興和較落後市場證券風險

－基金可投資於新興和較落後市場。投資於新興和較落後市場涉及的風險較投資於已發展國家的證券為高，例如擁有權及保管權風險、政治和經濟風險、市場及結算風險、流動性及波動風險、法律及監管風險、執行及交易對手方風險及貨幣風險。基金的每股資產淨值亦可能負面地受影響，投資者繼而蒙受損失。

5. 貨幣及兌換風險

－基金取得的投資項目可能以不同於基金基本貨幣的各種貨幣定值。此外，某單位類別可以不同於基金基本貨幣的貨幣定值。基金的資產淨值或會因這些貨幣與基本貨幣之間滙率浮動和匯率管制的變更而受到不利的影響。

6. 有關房地產投資基金的風險（「REITs」）

－透過於REITs的投資，除證券市場風險以外，可能承受類似直接持有房地產的相關風險。REITs的價格受其擁有之相關房地產價值改變影響。REITs依靠管理技巧，一般來說不會多元化。基金投資的若干「特別目的」REITs，其資產可能屬於特定的房地產行業，如酒店REITs、護理院REITs或貨倉REITs，因此承受該等行業發展不利的相關風險。

－基金投資的REITs未必需要證監會的認可，基金的派息政策或未能反映相關REITs的派息政策。

7. 有關對沖和對沖類別的風險

－基金不保證市場能提供合意的對沖工具或對沖技術可達到理想效果。在不利的情況下，基金可能會蒙受重大虧損。因該等對沖交易引致的任何開支將由相關對沖類別承擔。對沖可能會阻礙單位持有人在基金基本貨幣升值時得益。

8. 人民幣（「人民幣」）貨幣風險及人民幣類別相關風險

－人民幣現時不可自由兌換，須遵守外匯管制政策及限制。

－無法保證人民幣不會貶值。人民幣的任何貶值可負面地影響投資者於以人民幣定值類別的投資價值。

－人民幣類別參考境外人民幣（「CNH」）而非境內人民幣（「CNY」）的價值計值。CNH及CNY雖屬相同貨幣，但以不同的利率交易。CNH與CNY的任何分別可能負面地影響投資者。

－並非以人民幣為基本貨幣的投資者，在投資人民幣類別時可能須將港幣或其他貨幣兌換為人民幣，其後亦須將贖回人民幣所得款項及／或人民幣派息（如有）兌換為港幣或該等其他貨幣。因此視乎人民幣兌港幣或其他貨幣的匯率走勢而定，投資者將須承擔貨幣匯兌成本並可能帶來損失。

－在極端市況下，以人民幣支付贖回款項及／或派息可能因人民幣的外匯管制和限制而延遲。


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9. 與透過互聯互通機制投資相關的風險

－有關互聯互通機制的規則和規例或會更改，並可能潛在追溯效力。互聯互通機制受額度限制所限。當透過機制的交易被暫停，基金經機制投資於中國A股或進入中國內地市場的能力將受到不利影響。在該等情況下，基金達致其投資目標的能力可受到負面影響。

10. 有關中國銀行間債券市場的風險

－透過債券通投資於中國銀行間債券市場須承受監管風險及各種風險，例如波動性風險、流動性風險、結算和對手方風險及一般適用於債務證券的其他風險因素。透過債券通投資於中國銀行間債券市場的相關規則及規例會變更，並可能具追溯效力。倘若有關中國內地機關暫停開戶或在中國銀行間債券市場進行買賣，基金投資於中國銀行間債券市場的能力將受到不利影響。在此情況下，基金實現投資目標的能力將受到負面影響。

11. 金融衍生工具

－涉及金融衍生工具的風險包括對手方風險、信貸風險、流動性風險、估值風險、波動性風險、場外交易風險和對沖風險，金融衍生工具的槓桿元素部分可導致顯著地較金融衍生工具投資金額為大的虧損。該等投資或須承受重大的資本虧損風險。

本基金過往的業績表現如何？

－往績並非預測日後業績表現的指標。投資者未必能取回全部投資本金。

－基金業績表現以歷年末的資產淨值作為比較基礎，股息會滾存再作投資。

－上述數據顯示A類別（港元累積）總值在有關歷年內的升跌幅度。業績表現以港元計算，當中反映出基金的持續費用，但不包括基金可能向閣下收取的認購費及贖回費。

－如年內沒有顯示有關的業績表現，即代表當年沒有足夠數據用作提供業績表現之用。

－基金發行日：2011

－ A類別（港元累積）發行日：2011

－經理人視A類別（港元累積）（即以基金的基本貨幣計值的零售單位類別）為基金的最適合代表單位類別。

註：這些年度的業績表現乃在不再適用的情況下取得的。在這些年度，基金出現重大變更，即投資目標及政策變更及費用下調。

26.1%

0.8%

10.4%

-3.4%

6.5%

14.1%

-5.1%

11.6%

1.8%

-10%

0%

10%

20%

30%

2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

註


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本基金有否提供保證？

本基金並不提供任何保證。閣下未必能取回投資本金。

投資本基金涉及哪些費用及收費？

閣下或須繳付的收費

基金單位交易或須繳付以下費用。

費用金額

單位類別 A C X

認購費（首次認購費）投資金額的最高5.00%

轉換費轉換金額的最高5.00%

贖回費無

基金持續繳付的費用

以下收費將從基金總值中扣除，閣下的投資回報將會因而減少。

每年收費率（佔基金資產淨值百分比）

單位類別 A C X

經理人費* 1.25% 0.625% 1.25%

受託人費 0.07% （惟最低收費為每年156,000港元）

業績表現費不適用

行政費（服務提供機構的費用） 0.02%至0.2%之間

* 基金在給予單位持有人最少一個月的事先通知後可將收費調高，以基金的資產淨值7%為限。

其他費用

閣下進行基金單位交易或須繳付其他費用。有關由基金繳付的費用，請參閱銷售文件。


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其他資料

－施羅德投資管理（香港）有限公司在基金每個交易日交易截止時間（即香港時間下午5時正）或之前直接或經配售商收妥的認購或贖回要求，一般按隨後釐定的基金相關資產淨值執行。閣下作出認購或贖回指示前，請向閣下的配售商查問其內部的交易截止時間，因其交易截止時間可能會較基金的為早。

－經理人備有一份從資本中支付股息之各收息單位類別過去12個月的派息成份表（即分別從資本和淨收入中支付股息的百分比），該成份表可向經理人索取，亦可瀏覽施羅德網站(www.schroders.com.hk )。

－供香港投資者認購的其他單位類別的業績表現上載至網站www.schroders.com.hk。

－基金在每一交易日計算基金資產淨值及刊登單位價格，並上載至網站www.schroders.com.hk。該網站未經證監會審閱。

重要提示

閣下如有疑問，應諮詢專業意見。證監會對本概要的內容並不承擔任何責任，對其準確性或完整性亦不作出任何陳述。

Documents

Schroder Asian Asset Income Fund